AFYREN, a greentech company that offers manufacturers bio-based, low-carbon ingredients produced using unique fermentation technology based on a completely circular model, and Mitr Phol, a Thai company that is a leading producer of cane sugar and its derivatives, announced the signature of a Letter Agreement for the purpose of establishing a biorefinery in Thailand.
The signing took place in the presence of Mr. Olivier Becht, French Minister Delegate to the Minister of Europe, and Khun Warawan Chitaroon, Director General of The Office of Industrial Economics, Ministry of Industry, Thailand, highlighting the support of both French and Thai governments for this strategic project.
"This project is a major step forward in AFYREN’s development. With this second plant project, we are organizing our presence in a strategic region in the heart of Asia to better serve our customers," said Nicolas Sordet, CEO of AFYREN. By partnering with Mitr Phol, AFYREN is securing long-term access to a sustainable raw material from the local sugarcane industry. We look forward to working with Mitr Phol and benefiting from its long experience in the region."
"This innovative partnership with AFYREN is in line with our strategic vision towards sustainable development as it will allow us to strengthen the circular and sustainable model of our industrial activity with the development of biobased products that are friendly to the environment." said Khun Verajet Vongkusolkit, Chief Executive Officer – Thailand Sugar, Renewable Energy and New Business of Mitr Phol Group.
The agreement between AFYREN and Mitr Phol would lead to the creation of the AFYREN Group's second bio-based organic acid production plant. It is in line with AFYREN's "build and operate" development strategy, which aims to get as close as possible to raw material sourcing and to its customers' markets, with priority given to Asia and North America.
The agreement is also in line with the Mitr Phol Group's vision "to be the world class sugar and biobased leader by combining our fully integrated agribusiness model with innovative technology and management talent to create value for better life for all."
The accord is expected to be finalized mid-2023, subject to agreement by the parties on the final terms of the partnership.